Nollytainment Limited Announces Pre-sale ICO Of Nollycoin And Releases White Paper of its Revolutionary Blockchain Powered Movie Streaming Platform and Other Components Of a New Entertainment Ecosystem
NOLLYTAINMENT LTD, the Blockchain developers and operators of NOLLYCOIN, today announced that they are the first company to launch African movie production, distribution and marketing using the blockchain Cryptocurrency model. This achievement puts NOLLYTAINMENT LLC in a position to develop software and business models which uses the blockchain technology for financing, production, marketing, distribution and delivery of films in 3rd world countries and beyond
Effectively, NOLLYCOIN is the first Cryptocurrency specifically for use in the movie entertainment industry in developing countries
This significant milestone will be marked by the creation of a fund for the production of exclusive blockbuster Nollywood films which will be available on the NOLLYTAINMENT platform, while providing NOLLYCOIN users additional utility for their tokens. Not only will holders of the NollyCoin token be able to use the NollyCoin token as movie tickets to watch blockbuster movies on the Nollytainment platform, partner movie theaters and partner movie streaming sites, they will also be able to receive dividends from movies sold on the Nollytainment platform.
“The launch of NOLLYCOIN is a great milestone for NOLLYTAINMENT LLC,” said Dr. Ope Banwo, President of Nollytainment LLC. “We are very pleased that we are pioneering the elevation of the African movie industry to capitalize on the benefits of the blockchain technology for financing, production, marketing, distribution and delivery of African films through a Cryptocurrency for movies. The launch of NOLLYCOIN is the result of our commitment to the African movie industry and it will motivate us to continually seek ways and means of enhancing its profitability to all stakeholders.”
WHAT IS NOLLYCOIN:
NollyCoin is a revolutionary Peer-To-Peer creative works Sharing System for the African Movie industry. Nollytainment will allow movie producers and their creative works collaborators to license their content as a “coded contract” directly to a decentralized database called a “blockchain”. These contracts automate the collection and distribution of royalty payments among movie collaborators and remain in the control of the movie producers and creative artist s.
With the Nollytainment platform to be powered by NollyCoin, Consumers will be able to access a global catalog of movies stored on a peer-to-peer network, and pay owners directly using digital currency. Producers and creative artistes will also be able to get financing for high budget movies that can be distributed internationally
PROBLEMS OF NOLLYWOOD TO BE ADDRESSED BY NOLLYCOIN
Despite the world-wide attention to Nollywood, and literally thousands of movies released in a relatively short time, Nollywood remains severely limited in realizing its full potential by 5 Main factors:
• Problem of Access to sustained Financing and Capital by Producers to produce qualitative movies
• Problems of proper Copyright Protection and Piracy Issues
• Lack of Multi-Level World Wide distribution to justify financial and artistic investment by investors and stakeholders
• Structural problems for Fair Compensation for collaborators and other professionals in creating the movies
• Problems of Universal means of exchange for purchase or enjoyment of Nollywood movies.
THE NOLLYCOIN VALUE PROPOSITION FOR THE MOVIE COMMUNITY
NollyCoin offers a lot of win-win opportunities to stakeholders in the Entertainment industry except the pirates and copyright thieves. Here are some solutions and opportunities that NollyCoin is bringing into the entertainment ecosystem
1. Hard Working Movie Producers Win– Contrary to what some companies in entertainment may think at first blush, they will benefit from the NollyCoin Economy that will be heralded by NollyCoin. Under our ecosystem, the entire entertainment market scale can be enlarged to enhance long term exploitation of the copyrighted creative works. All stakeholders enter their copyrighted content onto NollyCoin blockchain and harvest the profits worldwide ad infinitum.
2. Movie Collaborators And Creative Artistes In The Production Chain Win — With blockchain technology and the NOLLYCOIN, collaborators can now be compensated accurately per contract without need for any third-party intervention. The terms of ongoing compensation for key collaborators like Cinematographer; Director, Editor; Writers; Main Actors etc. are coded into the ‘smart contract’ governing the uploading of the specific movie into the blockchain powered marketplace and everyone is automatically compensated per terms of that contract without the need for any third party intervention.
3. Movie Financiers And Stakeholders In Each Completed Movie Win — Proportionate payments to movie financiers can also be worked into the smart contract that would form the basis of distribution of income from all movies on the Nollytainment network. No longer will financiers or stakeholders have to chase down movie producers to get repayment of loans or capital investment in any movie project.
4. Open And Transparent Record-Keeping Ledgers For All Stakeholders — Nollytainment platform, with its underlying blockchain technology, will provide all players in the movie making industry including Movie Makers, Movie Producers, Cinematographers, and Writers with digital recording of all transactions in copyrighted works that is accessible to all stakeholders on an instantaneous and permanent basis….
About NOLLYTAINMENT LLC
The Nollytainment Team consists of an eclectic group of individuals who have excelled in their field and have shown consistent and performance and success. Our team is experienced in software development, film production, cryptocurrency, and business administration. The team includes, but is not limited to the following individuals:
On the BUSINESS AND ADVISORY BOARD we have season Executives including Daven Michaels, Dr Ope Banwo, Chad Nicely, Allyn Cutts, Greg Cesar, Kayode Ayeni, Olufemi Awoyemi.
On the TECHNICAL TEAM, we have put together experienced website developers with decades of experience in high level developments including Vaughn Item; James Overton; Ifiok Nkem; Leon Andrew.
To help getting the marketing efforts right, we have also engaged a mixed team of international and local MARKETING ADVISORS including: Ali Ghadit; Precious Ng, Delilah Taylor; Steven Alvey; Stephen Akintayo, Emmanuel Adegbola. Some of our MEDIA AND PR ADVISORS include Joshua Akinbanjo, Biodun Kupoluyi, Samuel Olatunji. Our MEDIA AND PR PARTNERS include Numuv Quest Ltd, Bigsam Media, Broadway TV, E247 Magazine
For more information about NOLLYTAINMENT LLC, visit its website at www.nollycoin.com